Recursos de Galicia (RDG) has reached an agreement with Sinia Renovables, Banco Sabadell’s investment fund division specializing in renewable energy and sustainability, to acquire 100% of the wind farm it has developed in Ribadeo and Trabada, both municipalities located in the A Mariña Oriental region of Lugo province. The transaction, which has received the necessary corporate approvals from both parties, is subject to the usual conditions precedent for this type of deal: ownership of the site will only be transferred to RDG once construction is completed, its proper operation is certified, and all mandatory permits have been obtained.
The permitting process for the Mondigo wind farm began in 2010 and most of the civil works have just been completed. The site consists of 11 turbines with a total installed capacity of 49.5 MW. It is expected to start generating power on a regular basis before the end of 2025, with an estimated annual output of 131 GWh, equivalent to the electricity consumption of around 38,000 households.
Emilio Bruquetas, CEO of RDG, stated: “We hope to finalize the agreed sale and purchase transaction soon. This would allow us to make further progress in implementing our strategic plan and would put us in a strong position to achieve key goals such as tackling climate change, providing Galicians with competitively priced electricity, stabilizing costs for our companies and, ultimately, boosting employment and ensuring that the benefits are reinvested in our region.”
“The market,” Bruquetas added, “has presented us with this opportunity; we see it as a real chance to secure our own renewable energy supply in a context where doing so is increasingly challenging.”
“This agreement is yet another example of Sinia and the Banco Sabadell Group’s commitment to sustainable development. For over 25 years now, Sinia has been a benchmark investment vehicle for our clients in the renewable energy sector. We act as their ally throughout the process, helping them successfully carry out initiatives linked to the energy transition. Concluding this agreement with RDG is undoubtedly another example of our strategy in action,” said Xavier Gàsquez, Managing Director of Sinia.
“Sinia is Banco Sabadell’s investment vehicle for the energy transition,” Gàsquez emphasized, “aimed at supporting our clients’ projects and business plans with capital solutions and alternative financing.”
About Recursos de Galicia
Recursos de Galicia is a pioneering company in Spain, created to help decarbonize the economy, strengthen Galicia’s energy self-sufficiency, promote competitive energy prices, stimulate the energy-industry-society nexus, and ensure that all of this has the greatest possible positive impact on the region and its people. In short, its mission is to ensure that energy development is fair and contributes to the progress of Galicia and its economic fabric. Its motto sums this up: “Our resources, at our service.”
It is a company that represents Galician society and exemplifies the public-private collaboration promoted by the European Commission. This status strengthens the company while giving it the cross-cutting reach that makes it a true national project. The Xunta de Galicia is the main shareholder. The private stake currently includes 32 companies of all kinds, together employing more than 21,000 people directly and contributing around 14% of the region’s GDP each year.
This shareholder base includes Abanca; Martabela, a vehicle company owned by Megasa and Finsa; Invernatur, another SPV of Copasa, Valtalia and Gesuga; Cabicastro, an SPV of Grupo Nogar, Grupo Pérez Rumbao, Conservas Rianxeira, Lucasiñas and Grupo Revi; Gadisa; Exlabesa; ARP Global; Ain Active; Wind1000; Ence Terra; Iniciativa Patrimonio Natural de Galicia, an SPV of Grupo Intaf, Genesal, Industrial Recense, Mecanizados Acebrón, Cover Global, Edigal, Tecdesoft, Ertec Iberia, Integria Energía Empresas Eurozona, Sertogal and Twinleads, all members of Cluergal; Grupo Servicio Móvil; Cerámica Campo; Aceites Abril; and Megaro Foods.
About Sinia Renovables
Sinia Renovables is Banco Sabadell’s investment fund division specializing in renewable energy and sustainability, with over 25 years of experience in the sustainability sector. The company helps developers turn their projects into reality.
Sinia is both an investor and a developer, which means it has an in-depth understanding of the renewable energy business.
It works alongside clients to achieve success together in their renewable energy and sustainability projects, reaching the ready to build stage and bringing them into operation.
Sinia knows that what matters most to a developer is focusing on growing its project portfolio. For this reason, it is fully committed and provides comprehensive solutions all the way through to commissioning.
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